Solar Industries India Ltd acquires majority stake in Problast BS Pty Ltd, South Africa

Solar Industries India Limited, a global company specializing in the design, development, manufacture, and application of energetic materials for mining, defence & space applications have acquired a majority stake in "Problast BS (Pty) Ltd" South Africa, through its South African subsidiary "Solar Mining Services (Pty) Ltd" ("the Company").

Solar Mining Services (Pty) Ltd, has world-class manufacturing capability in bulk emulsion, explosives accessories and delivery systems and has established itself as a reliable and quality source of products and services.

Problast BS (Pty) Ltd, has been recognized as the premier blasting solution provider in South Africa since 2016. This acquisition will help Solar Industries to expand its operations in African continent.

The Company's investment in Problast BS (Pty) Ltd is in line with the long-term business plan of the Company to expand its business operations in African continent.

Shares of Solar Industries India Limited was last trading in BSE at Rs. 12142.70 as compared to the previous close of Rs. 11468.60. The total number of shares traded during the day was 6552 in over 2121 trades.

The stock hit an intraday high of Rs. 12358.00 and intraday low of 11722.30. The net turnover during the day was Rs. 78247432.00.

Source : Equity Bulls

Keywords

SolarIndustriesIndia INE343H01029 MajorityStake Acquisition ProbmlamstBMS SouthAfrica